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FINANCIAL NEWS
Saudi SAFCO profit down 7.8 percent in Q2
14 Jul 2014
(MENAFN) Saudi Arabian Fertilizer Co (SAFCO) has posted a drop in quarterly earnings for the fifth time in a row on Sunday as the second quarter”s net profit fell by 7.8 percent, according to Arabian Business.
SAFCO said that its net profit was estimated at USD170.4 million in the second quarter compared to USD184.74 million in the same quarter 2013.
A group of nine analysts polled by Reuters had forecast on average that SAFCO would make USD183.73 million in the quarter.
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